Creditor relations
We find the right balance between equity and debt capital, which helps us to optimise our cost of capital.”
We make use of international debt capital markets to finance our growth. In the medium term, we are aiming for an investment-grade profile in order to safeguard the supply of debt capital at particularly attractive conditions.
Rating
Rating
| Company | Bonds 2019/2024 | ||
|---|---|---|---|
| Rating Agency | Rating | Outlook | Rating |
| Moody's | Caa2 | negative | Caa3 |
Standard & Poor’s ratings:
- 22 Juni 2021: Rating Withdrawal at DEMIRE´ s Request [PDF]
- 15 March 2021: Rating Update [PDF]
Moody’s ratings:
- 9 September 2024: Issuer Comment [PDF]
- 23 November 2023: Rating Action [PDF]
- 7 July 2023: Rating Action [PDF]
- 4 April 2023: Credit-Opinion April 2023 [PDF]
- 15 December 2022: Credit-Opinion December 2022 [PDF]
- 29 November 2022: Rating Action [PDF]
- 19 September 2022: Credit-Opinion September 2022 [PDF]
- 27 July 2022: Rating Action [PDF]
- 01 June 2022: Credit-Opinion June 2022 [PDF]
- 06 April 2021: Rating Action [PDF]
Standard & Poor’s ratings:
- 22. Juni 2021: Rating Withdrawal at DEMIRE´ s Request [PDF]
- 15 March 2021: Rating Update [PDF]
- 25 August 2020: Rating Update [PDF]
- 20 July 2020: Rating Update Annual Review [PDF]
- 11 July 2019: Rating Update Annual Review [PDF]
- 5 July 2018: Rating Update Annual Review [PDF]
- 29 May 2018: Rating Update [PDF] on the Change of the Shareholder Structure
- 01 March 2018: Rating Update [PDF] on announcement of 10% capital increase and takeover offer
- 18 September 2017: Rating Update [PDF] on the tap of the corporate bond 2017/2022
Standard & Poor´s Rating Services assigned a first-time long-term issuer rating to DEMIRE on July 10, 2017.
Long-term Issuer Rating: BB (Outlook: stable) as well as for the intended issue of senior notes: BB+
Rating report S&P [PDF]
Moody’s Ratings:
- 06 April 2021: Rating Action [PDF]
- 24 July 2020: Rating Update Annual Review [PDF]
- 10 July 2019: Rating Update Annual Review [PDF]
- 23 July 2018: Rating Update Annual Review [PDF]
- 01 March 2018: Rating Update [PDF] on announcement of 10% capital increase and takeover offer
- 18 September 2017: Rating Update [PDF] on the tap of the corporate bond 2017/2022
Moody’s also assigned a first-time long-term issuer rating to DEMIRE on July 10, 2017.
Long-term Issuer Rating: Ba2 (Outlook: stable) as well as for the intended issue of senior notes: Ba2
Rating report Moody’s [PDF]
2019/2024 corporate bond
Bondholder Information
Invitation to Vote2019/2024 corporate bond
| Name | DEMIRE Senior Notes 2019/2024 |
| Issuer | DEMIRE Deutsche Mittelstand Real Estate AG |
| Rating | Caa2 (Moody’s) |
| Stock exchange listing /trading | Open market of the Luxembourg Stock Exchange (Euro MTF) |
| Applicable law | German law |
| ISIN code | DE000A2YPAK |
| WKN | A2YPA |
| Common code | 206185465 |
| Total nominal amount | EUR 499 million |
| Issue price | 99.407% of nominal value |
| Denomination | EUR 100,000 |
| Coupon | 1.875% |
| Interest payments | On 15 April and 15 October, starting on 15 April 2020 |
| Maturity date | 15/10/2024 |
| Yield-to-maturity | 2.00% |
| Distribution | Regulation S, excl. registration rights |
| Repayment | Non-call life (with three-month option for early redemption) |
| Repayment in the event of a change in withholding tax | At nominal value, plus accumulated and unpaid interest |
| Change of control | 101% plus accrued and unpaid interest |
The net proceeds from the bond will be used for the early refinancing of the bond due to mature in 2022 and a promissory note also due to mature in 2022, as well as for general business purposes.